School fee - payment method

[supertrex]

I think most schools accept monthly payment. I thought it is the total fee divided by 4, and to be paid from September onwards.

However, from Finance Controll's note:
" two instalments must be paid before the first day of term, leaving two payments to be paid after the start of term (except for the Trinity term, for which payments start in April). If it is too late to collect the first payment in the term, this can be paid by cheque"

If it is "monthly instalment", isn't it to be paid by each month??

Is it a common practise in most schools?

Tkx

[guest43]

Hi. It certainly sounds a little complicated. Does the School operate a Direct Debit system? I think this is the norm these days. If so leave it to the School to operate however it wants and reconcile it at the end of each school year.

[zorro]

We get a bill just before the start of term which includes 'extras' for the previous term. There is a HSBC scheme for paying monthly but we pay ours each term (3 times per year- Christmas term, Lent term and Summer term)

[Ed's mum]

Same as Zorro.

[supertrex]

I used to pay school fee by transferring money from my account to school's account before the due date. For direct debit, does it similar to a standing instruction or auto-pay that funding must be in my account in a specific date then the school to debit my account??

[guest43]

A Direct Debit differs from a Standing Order in that it is not for a specific amount. So a school can take a different amount of money out of your account each month. Obviously this might not suit if you try to run a bank account as close to zero as possible (or if you don't trust the school!)

DD school has tried to eliminate as many "extras" as possible by including them in the fees (e.g. outdoor pursuits) but there always seem to be a few bits and pieces to stop the monthly payment being the same every month.

[supertrex]

You are absolutely right.

The school "offers" too many option items and I was shocked if I didn't decline them.